The labor market is changing faster than you may realize.
Demographic changes and
technological advancements could lead to the net loss of five million jobs by 2020 according to a report published by the World Economic Forum.
In total, the report estimates that
7.1 million jobs could be lost, the majority of which will be white-collar, office, and administrative positions.
The report, called "The Future of Jobs," surveyed executives from more than
350 Employers across nine Industries in 15 of the world's largest
economies to come up with its predictions about how labor markets will evolve.
While this job landscape is expected to undergo radical changes over the next few years,
the report predicts that there will also be certain occupations that are in higher demand.
In this video, you will come to know some of the job categories that are expected to see this growth.
Note that this information is based on the World Economic Forum.
1) Data analysts will be in demand.
According to the report, data analysts will become increasingly more important in all industries by 2020.
Survey respondents said they expect to have a greater demand for data
analysts because they will need help making sense of all the data generated by technological disruptions.
2) Computer and mathematical jobs will continue to get a boost.
These jobs include computer programmers, software developers, information security analysts, and more in this realm.
3) Architects and engineering jobs will remain stable.
During the next four years, the demand for those skilled in architecture and engineering will continue to increase.
Specifically, the report states there will be growth for engineers focusing on bio chemicals,
nanotechnology, robotics, and materials.
By 2020, two million jobs will be created worldwide that fall under computer-,
mathematical-, architecture-, and engineering-related fields
4) More specialized salespeople will be needed.
As technological advancements continue to disrupt industries, there will be a growing need for specialized salespeople who can explain the
company's offerings to a wide range of clients.
This includes businesses, governments, consumers, along with new leads the company has never worked with before.
For example,
as content is increasingly consumed on mobile, a digital media company would want to hire salespeople who
are knowledgeable with the ins and outs of mobile advertising.
5) Senior managers will be needed in industries across the board to lead companies through periods of transformations.
Industries ripe for disruption will also need a new type of senior manager to help these companies navigate the rough waters of change.
Sectors that will need new senior managers include media, entertainment, and information industries.
6) Product designers aren't going anywhere.
One of the top skills that will be in demand by 2020 is creativity, according to the report.
This will occur because many jobs will be monotonous and automated
but creative jobs will still require a human being.
One occupation said to increase is designers,
specifically commercial and industrial designers.
These are the people that design and develop products like cars, appliances,
gadgets, and other manufactured goods.
7) Human resources and organizational development specialists will also be needed to help re-skill workers.
While technological and socio-economic changes will cause some jobs to disappear completely,
there will also be a need for new jobs created and people needing to fulfill them.
One way companies are planning to find the talent for these jobs is by training existing employees with the required skill sets.
In fact, the report states
65% of respondents said they were investing in re-skilling current employees today.
Development specialists and human resource professionals will be needed not only for hiring in a competitive market,
but also to help employees develop new skills.
8) Demand for regulatory and government relations experts will continue to increase as companies embrace new technologies.
As companies adopt and develop emerging technologies,
they will also be looking to hire those familiar with the navigation of legalities in these spaces.
For example, as traditional automakers and tech companies develop driverless cars,
they will hire people who understand the relevant laws and who can work with government regulators to ascertain the best way to implement these technologies.
Thank you for watching this video!
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Let us know what you think will be the job in highest demand in the future.